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CNBC Fast July 3, 2024

By 17 state attorneys general to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, and stifle innovation the suit represents one of the biden administrations most sweeping and aggressive moves to break up what it sees as consolidated power in the hands of the tech giants the administration hopes this will both lower prices new competition and spark new innovations that will help the economy. The ftc says amazons alleged schemes impact hundreds of billions in retail sales every year ftc chair lee. Lee it occurs in two markets the online superstar market that serves shoppers and the market for online Marketplace Services that are purchased by sellers. The alleged tactics include antidiscounting measures and conditioning sellers ability to obtain prime eligibility on using amazons costly fulfillment service. The ftc says it is seeking a permanent injunction in federal court that wou ....

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